LiveOne (LVO) Acquires Palm Beach Records

LiveOne (Nasdaq: LVO) ("LiveOne"), a global platform for livestream and on-demand audio, video, and podcast/vodcast content in music, comedy, and pop culture, and owner of LiveXLive, PodcastOne, Slacker Radio, React Presents, Gramophone Media, and Custom Personalization Solutions, announced today that it has completed the acquisition of Palm Beach Records. As part of the deal, LiveOne also plans to expand the studio's music operations and launch a full-service podcast recording studio. LiveOne will use the studio to break and sign new music and podcast talent, broaden its publishing, management and recording divisions, offer exclusive content to drive new LiveOne members and use the studio for franchises and South Florida-based events - where it continues to bolster its operations and events.

Palm Beach Records will operate as a stand-alone wholly-owned subsidiary of LiveOne. The acquisition is to be immediately accretive to LiveOne's earnings and strengthen LiveOne's balance sheet.

Palm Beach Records is home to some of South Florida's biggest hip-hop talent. The studio, founded by Christian "Rekstarr'' Ocampo, is where Kodak Black started out and recorded his first three mixtapes. Ocampo was an early and frequent collaborator with Kodak Black and Sniper Gang and was part of many of their hit songs including his debut hit single "No Flockin'."

Ocampo will continue to lead all operations for the studio and brings a stellar roster of talent, including Kodak Black, Supreme Patty, Haitian Fresh, Lil Boosie, Jack Boy, 21 Savage, Koly P, Soldier Kid, C Glizzy, Wyatt Ray, Patrick Peterson, Tyrann Mathieu, Sniper Gang, Scrilla, Mmg, Kat Dahlia, Mallory Merk, Jay Dirty, Sarah Gibson and Cxdy.

"We are excited to announce our seventh acquisition through the purchase of iconic label Palm Beach Records. This acquisition will expand our music and podcast operations with a full-service studio in South Florida. It will position LiveOne to break and sign new music and podcast talent adding to an impressive roster of Palm Beach Records artists," said Robert Ellin, Chairman and CEO of LiveOne.

"I am overwhelmed with gratitude to join the LiveOne family. Rob Ellin, Dermot McCormack, Jackie Stone, and the whole team are visionaries," said Christian Ocampo, Founder of Palm Beach Records. "The legacy and history Palm Beach Records carries is deep-rooted in South Florida, and I know the future is bright with all of us working together. "

You May Also Be Interested In

• Goldman: 'Our top picks include XYZ, KLAR, AFRM, and CHYM'
• Citi names top picks in software ahead of Q2 earnings
• Roadzen to acquire European car rental insurance MGA for $15M